The Cambodia chapter of the Entrepreneurs Organization (EO) has finally been launched, making the Kingdom the seventh country in Southeast Asia to host a chapter of one of the most prestigious global business networks.
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The launching comes several months after a group of Cambodian entrepreneurs contacted EO about the possibility of setting up a local chapter.
The launching of EO Cambodia was held at Topaz Restaurant on Sept 18. The event was attended by business leaders from Cambodia and abroad.
The new group comprised of prominent Cambodian business leaders, including Chrek Soknim, president of the Cambodian Valuers and Estate Agents (CVEA).
Membership in the organisation is by invitation only and prospective members need to satisfy stringent requirements. To qualify to be a member of the organisation, according to the EO website, one must be the founder, co-founder or controlling shareholder of a company that grosses more than $1 million annually.
For a national chapter to be created there should be at least 16 members in that country.
EO Cambodia is the latest business organisation to launch in this country, whose growing economic clout has made it into one of the leading investment destinations in the region.
Business leaders said having an EO chapter would be beneficial for the Kingdom.
Kuy Vat, the owner of real estate firm VTrust Group, earlier told the media that having an EO chapter here could bring many benefits to the Cambodian business community, including the opportunity for local entrepreneurs to meet and exchange ideas with their foreign counterparts.
“Creating a wider network of contacts could further attract foreign investment to Cambodia,” he said.
EO, which originated in the United States, described itself as “world’s only peer-to-peer network exclusively for entrepreneurs”.
The group counts more than 13,000 businesspeople and investors as members in 57 countries around the world. In Southeast Asia, the group has a presence in Thailand, Vietnam, Singapore, Malaysia, the Philippines, and Indonesia.